Elders to cut 75 jobs in Adelaide

Agribusiness
Elders
will axe 75 jobs at its Adelaide headquarters before September 30 in a move to cut costs.

Elders said on Monday that the size of its "back office" workforce needed to be appropriate for current and anticipated business conditions.

Elders chief executive
Malcolm Jackman
said there would be no cuts to branch network or customer-facing roles.

"We need to manage the corporate and network support functions in line with market conditions, also recognising the reduction in the size and complexity of Elders that has been achieved as we've divested non-core businesses in recent years", Mr Jackman said in a statement.

Elders also said that it was reducing the size of the company's board, with Ray Grigg and Anna Buduls volunteering to retire.

Elders directors believed that the interests of the company and shareholders would be best served by a smaller board.